American Healthcare REIT Announces IPO Of 56 Mln Shares

(RTTNews) - American Healthcare REIT, Inc., (AHTR), a company focused on clinical healthcare real estate properties, on Monday announced the launch of its initial public offering or IPO of 56,000,000 shares.

The IPO price is expected to be between $12 and $15 per share.

The company might grant the underwriters a 30-day option to purchase up to an additional 8,400,000 shares.

REIT intends to use the net proceeds of the proposed offering to repay around $703.8 million of the amount outstanding under its credit facility assuming pricing at the mid-point of the range.

The company stock has been approved for listing, subject to official notice of issuance, on the New York Stock Exchange under the symbol 'AHR.'

BofA Securities and Morgan Stanley are acting as lead book-running managers for the offering.